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Financing wind energy projects: An extended theory of planned behavior approach to explain private households’ wind energy investment intentions in Germany

Gamel, J.; Bauer, A.; Decker, T.; Menrad, K. (2022)

Renewable Energy Volume 182 (January 2022), S. 592-601.
DOI: 10.1016/j.renene.2021.09.108


Socially responsible investment (SRI) is an investment strategy which complies with ethical, social, environmental or corporate governance criteria. Investments in renewable energies are commonly regarded as complying with SRI principles. This study aims to deepen the understanding of individuals' intentions to invest in wind energy. As an underlying framework the Theory of Planned Behavior's constructs attitude, subjective norm and perceived behavioral control were used and statistically tested with an online-survey of 592 participants in 2014. Further, this theory was extended by adding the constructs consumption profile and investor profile to the framework. With the inclusion of the two additional constructs the theoretical model turns to be very suitable as it doubled the share of explained variance of behavioral intention from 25% to 50% compared to the Theory of Planned Behavior. The analysis further shows that subjective norms, perceived behavioral control, consumption profile and investor experience have statistically significant influence on investment intentions in wind energy. However, attitudes towards wind energy investments are not a significant predictor of investment intentions. We conclude that, apart from the scientific implications of our results, our findings have practical applications for the conceptual design of wind energy investments.


Verbraucherreaktionen bei Plastik und dessen Vermei-dungsmöglichkeiten am Point of Sale (VerPlaPoS)

Decker, T.; Lippl, M.; Albrecht, S.; Bauer, K.; Drechsel, P.; Frommeyer, B....

Abschlussbericht, 177 S.


PlantGrid – Digitale Management-Unterstützungssysteme für kleine und mittelständische Unternehmen in Wertschöpfungsketten von Zierpflanzen, Stauden und Schnittblumen

Menrad, K.; Haselbeck, F.; Berki-Kiss, D.; Decker, T.; Grimm, D.; Hannus, T....

Vortrag auf Statusworkshop der FuE-Projekte im BMEL-Förderschwerpunkt Gartenbau 4.0. 4.-5.5.2021 (digitale Konferenz).

A comparative analysis of house owners in need of energy efficiency measures but with different intentions

Baumhof, R.; Decker, T.; Menrad, K. (2019)

Energies 12, 2267 (12), S. 1-19.
DOI: 10.3390/en12122267

Open Access

Factors influencing citizens‘ acceptance and non-acceptance of wind energy in Germany

Langer, K.; Decker, T.; Roosen, J.; Menrad, K. (2018)

Journal of Cleaner Production 175, S. 133-144.
DOI: 10.1016/j.jclepro.2017.11.221


Which factors determine the extent of house owners‘ energy-related refurbishment projects? A Motivation-Opportunity-Ability approach

Baumhof, R.; Decker, T.; Menrad, K. (2018)

Sustainable Cities and Society 36, S. 33-41.
DOI: 10.1016/j.scs.2017.09.025


Public participation in wind energy projects located in Germany: Which form of participation is the key to acceptance?

Langer, K.; Decker, T.; Menrad, K. (2017)

Renewable Energy 112 (11), S. 63-73.
DOI: 10.1016/j.renene.2017.05.021


Which factors influence retail investors’ attitudes towards investments in renewable energies?

Gamel, J.; Menrad, K.; Decker, T. (2017)

Sustainable Production and Consumption 12 (10), S. 90-103.
DOI: 10.1016/j.spc.2017.06.001


An Expectancy Theory Approach: What motivates and differentiates German house owners in the context of Energy Efficient Refurbishment Measures?

Baumhof, R.; Decker, T.; Röder, H.; Menrad, K. (2017)

Energy and Buildings 152, S. 483-491.
DOI: 10.1016/j.enbuild.2017.07.035


About rebound- and spillover-effects: A two-step model for analysing influencing factors on environmental behaviour

Bauer, A.; Decker, T.; Menrad, K. (2017)

Konferenzband “International Conference on Human Dimensions of Environmen-tal Risks, 21.-26. Mai 2017 in Ascona (Schweiz), S. 31.


A qualitative analysis to understand the acceptance of wind energy in Bavaria

Langer, K.; Decker, T.; Menrad, K.; Roosen, J. (2016)

Renewable and Sustainable Energy Reviews 64, S. 248-259.
DOI: 10.1016/j.rser.2016.05.084


Which factors influence biogas investments of Ukrainian agroholdings? An empirical study of large-scale farms in Ukraine

Romets, D.; Decker, T.; Menrad, K. (2016)

Vortrag auf 155. EAAE-Seminar "European Agriculture towards 2030. Per-spectives for further East-West Integration", 19.-21. September 2016 in Kiew (Ukraine).

Adoption of green electricity by German small and medium-sized enterprises (SMEs) – a qualitative analysis

Rahbauer, S.; Menapace, L.; Menrad, K.; Decker, T. (2016)

Journal of Cleaner Production 129, S. 102-112.
DOI: 10.1016/j.jclepro.2016.04.113


Purchase of green electricity by small and medium-sized enterprises in Germany

Rahbauer, S.; Menapace, L.; Menrad, K.; Decker, T. (2016)

Renewable and Sustainable Energy Reviews 59, S. 1185-1194.
DOI: 10.1016/j.rser.2016.01.079


Is it really all about the return on investment? Exploring private wind energy investors' preferences

Gamel, J.; Menrad, K.; Decker, T. (2016)

Energy Research & Social Science 14, S. 22-32.
DOI: 10.1016/j.erss.2016.01.004


Adaptive hybrid methods for choice-based conjoint analysis - A comparative study

Bauer, R.; Menrad, K.; Decker, T. (2015)

International Journal of Marketing Studies 7 (1), S. 1-14.
DOI: 10.5539/ijms.v7n1p1

Open Access

House owners‘ perceptions and factors influencing their choice of specific heating systems in Germans

Decker, T.; Menrad, K. (2015)

Energy Policy 85, S. 150-161.
DOI: 10.1016/j.enpol.2015.06.004


Alternative fuel vehicles - Preferences, attitudes and motives of German students in the field of mobility

Bauer, R.; Menrad, K.; Decker, T. (2014)

International Journal of Electric and Hybrid Vehicles 8 (4), S. 298-314 .
DOI: 10.1504/ijehv.2014.067604


Verkaufsbereitschaft von Landwirten für Stroh in Bayern

Gaus, C.; Menrad, K.; Decker, T. (2014)

Wie viel Markt und wie viel Regulierung braucht eine nachhaltige Agrarentwicklung?, Schriften der Gesellschaft für Wirtschafts- und Sozialwissenschaften des Landbaues e. V. 49, S. 409-410.


Consumer-relevant Information about Bioplastics

Kainz, U.; Zapilko, M.; Decker, T.; Menrad, K. (2013)

Proceedings of the First International Conference on Resource Efficiency in Interorganizational Networks - ResEff 2013 -, Göttingen, S. 391-402.


Dr. rer. pol. Thomas Decker

Hochschule Weihenstephan-Triesdorf

TUM Campus Straubing
Petersgasse 18
94315 Straubing

T +49 9421 187-204